A document, signed by the insurance company or its agent, that is written evidence of ~ in force at the time of issuance. Museums or lenders often require certificates of insurance from one another before releasing objects on loan (Nauert 1979).
A document given to each person insured by a group insurance plan. This document shows the type and amount of coverage to which the group member is entitled and the beneficiary of the coverage. The certificate may also contain a summary of the contract terms as they affect individual group members. See also master contract.----------[ Back
The formal document received by an employee that describes the specific benefits covered by the policyholder's group health care contract with the insurance company. The certificate contains copayment and/or deductible requirements, specific coverage details, exclusions and the responsibilities of both the certificate holder and the insurance company.
A statement of coverage issued to an interested third party that outlines insurance coverage's, limits, insurers, policy numbers and policy terms. A certificate of insurance often is used as proof of insurance in legal transactions such as property leasing and obtaining a mortgage.
A document provided by an insurance carrier outlining coverage on their clients. When insurance is discontinued, all holders of certificates of insurance are notified. These are required by show management before a Third Party Vendor can work on the show floor.
(1) A statement of the coverage and general provisions of a master contract in group insurance that is issued to individuals covered in the group. (2) A form which verifies that a policy has been written and states the coverage in general, often used as proof of insurance in loan transactions and for other legal requirements.
A certificate of an insurance policy that describes the coverage, the entity insured and the dates of the policy. A certificate of insurance naming the landlord as additional insured is normally required under a triple net lease.
or Owner's Certificate of Insurance and Vehicle Licence â€” the top 2/3 of the document you get from your broker when you register, license and insure your vehicle. The signed certificate must be carried in your vehicle as proof that the vehicle is licensed and insured.
A document evidencing the existence of an insurance policy. A certificate is not itself a policy and frequently does not include a full recitation of all the terms, conditions, and limitations of the actual policy.
A written description of insurance in effect as of the date and time of the certificate. The certificate does not ordinarily confer any rights on the holder, i.e., the issuing insurer does not promise to inform the holder of change in or cancellation of coverage.
A basic element of an effective risk management program. Serves as evidence of the financial capability of an indemnitor who has executed an agreement in favor of an organization. Most show organizers require a certificate of insurance from every exhibitor, just as most facilities require one from show organizers.
Written evidence that an insurance policy has been issued, indicating both the amounts and the types of insurance. It is used when general contractors or property owners require subcontractors to provide evidence of insurance.
A statement summarizing the types of coverage, amounts of coverage and policy effective dates and which indicates that the certificate holder (usually your client) will be notified if a policy cancels.
A document which serves as proof of the types of coverage, amounts of coverage and policy effective dates of an insurance policy. Certificates are held by the insured or, in some cases, by a company or person to whom the insured is potentially liable.
A modified form of a policy issued to a party with an interest in a property. It certifies the existence of insurance. By issuing such a document, an insurance company agrees to notify the party of any cancellation of insurance.
A form that delineates the coverage in effect, dates of inception and expiration, limits, and insurance companies for the stated party. The "COI" form, typically a standard ACORD form, is typically signed and dated by an agent of the insurance company(ies) listed on the form. Contrary to some opinions, COI's convey little or no legal rights to their bearers. A COI is a "point-in-time" certification by the signatory that the stated coverage was in effect on the date signed.
A piece of paper not to be confused with an insurance policy. It is issued mainly to comply with certain statutory requirements as evidence of cover. A certificate is issued to motor vehicle owners and also to employers under Workman's Compensation laws. Another type of certificate can be issued under a Marine Cargo Open Cover as evidence that Cargo insurance has indeed been arranged.
A written statement to the effect that an insurance policy has been written covering a particular risk and containing a summary of the terms of the policy. In financing each customer is required to have his insurance agent provide us with evidence of his insurance coverage by forwarding a Certificate of Insurance.
A document represents the formal confirmation of the compulsory insurance and generally applies to motor and employee's compensation insurance. For travel or marine cargo insurance, it is a slip relating to the master policy to confirm coverage and serves as a cover note.
A document presented by the insurance company or insured as evidence that insurance is in effect. The insured may assign his rights under this negotiable document to a third party, usually the consignee, by endorsing the reverse of the certificate.
A document containing certain terms of a full-length insurance policy. A one-page document, it is evidence that there is insurance coverage for a shipment. Beneficiaries of open cargo or blanket insurance policies are authorized to issue their own certificates of insurance.
Proof of insurance coverage issued by a broker or insurance carrier. Reflects line(s) of coverage (e.g., workers' comp, commercial auto, general liability, etc.), policy number(s), limits of insurance, deductible(s), and special conditions (additional insured, loss payee clause, etc.).
The printed description of the benefits and coverage provisions, disclosing what is covered, what is not covered, and any limits to coverage. This is the contract between the carrier and the customer. This is also referred to as a Benefits Booklet.
In group insurance, a document that a group policyholder delivers to each group insured which describes the coverage provided and the group insured's rights to insurance. Also known as certificate of coverage. See also master contract.
This is a document issued by the insurer as evidence that an insurance policy is in force. It is not the insurance policy and in the case of Motor Insurance may be required to comply with certain statutory requirements.